Form 4: Viasat Director Richard Baldridge Reports Significant Stock Activity Including RSU Vesting and Trust Transfer

Viasat Inc. Director Richard A. Baldridge reported a series of transactions on June 7, 2025, involving the vesting of restricted stock units, shares withheld for tax obligations, and a transfer of shares to a family trust.

Summary

• Richard A. Baldridge, a Director of Viasat Inc. (VSAT), reported changes in his beneficial ownership of common stock on June 7, 2025.
• 10,308 shares of common stock were acquired directly by Mr. Baldridge at a price of $0, resulting from the vesting of restricted stock units (RSUs).
• Concurrently, 200 shares of common stock were disposed of at a price of $9.21 to satisfy tax withholding obligations related to the RSU vesting.
• An additional 10,108 shares of common stock were disposed of directly by Mr. Baldridge at a price of $0 and subsequently acquired indirectly by The Baldridge Family Trust, representing a contribution to the trust upon vesting.
• The original restricted stock unit grant was for 41,230 units on June 7, 2023, with a vesting schedule of 1/4 on the 13th month anniversary and 1/4 on each of the second, third, and fourth anniversaries of the grant date.
• Following these transactions, Mr. Baldridge directly owns 55,000 shares of common stock and indirectly owns 295,561 shares through The Baldridge Family Trust.
• 20,614 restricted stock units remain beneficially owned directly by Mr. Baldridge.

Sentiment

Score: 5

Explanation: The document reports routine insider stock transactions related to equity compensation vesting and personal financial planning, which are neutral in sentiment and generally expected.

Positives

• The vesting of 10,308 restricted stock units indicates a realization of equity compensation for the director, reflecting continued service and value creation.
• The transfer of shares to a family trust is a common and expected personal financial planning activity for executives and directors.

Risks

• Unvested restricted stock units are subject to forfeiture in the event of termination of employment or service with Viasat Inc.

Future Outlook

The remaining 20,614 restricted stock units are subject to a vesting schedule, with portions vesting on the second, third, and fourth anniversaries of the June 7, 2023, grant date, provided the reporting person's employment or service continues.

Management Comments

• "This entry represents the number of shares of Viasat, Inc. common stock withheld by the Issuer to satisfy the tax withholding obligation of the Reporting Person. These shares were not sold by the Reporting Person but were instead offset from the total number of vested shares received by the Reporting Person from the Issuer."
• "These restricted stock units were granted to Richard A. Baldridge, who at the time of the grant was an officer of Viasat, Inc. Upon vesting the shares were contributed to The Baldridge Family Trust."
• "The original restricted stock unit grant was for 41,230 units on 06/07/2023. Subject to the reporting persons election to defer the receipt of the common stock, the units vest and convert into shares of common stock (on a 1 for 1 basis) at the rate of 1/4 on the 13th month anniversary of the grant date and 1/4 on each of the second, third and fourth anniversary of the grant date."
• "Until vested, the restricted stock unit shall be subject to forfeiture in the event of termination of employment or service with the Issuer."

Industry Context

This Form 4 filing is a routine disclosure of insider stock transactions, common across all publicly traded companies. It reflects the standard process of equity compensation vesting and personal financial management by corporate directors.

Related Party Transactions

• A transfer of 10,108 shares of common stock from Richard A. Baldridge directly to The Baldridge Family Trust, which is controlled by the reporting person.

Stakeholder Impact

• Shareholders: This is a routine insider transaction and does not indicate any significant change in company operations or strategy. It reflects a director's realization of equity compensation and personal financial planning.
• Employees: No direct impact on employees is indicated by this filing.

Next Steps

• Future vesting of the remaining 20,614 restricted stock units on the second, third, and fourth anniversaries of the June 7, 2023 grant date.

Key Dates

Keywords

Viasat, VSAT, Form 4, insider transaction, beneficial ownership, restricted stock units, RSU vesting, director stock activity, equity compensation, stock transfer